S&P 500: Consolidation Within Uptrend | RSI Near 60S&P 500SP_DLY:SPXChartrickPrice just wrapped up a strong session, closing back above the mid Bollinger Band and the 0.236 Fib retracement, and the structure still looks constructive here. CMP: 7730.98 (as on 28 August, 2026) The index is in a consolidation phase following its recent rally, but the broader uptrend remains intact. Price has held above the Mid Bollinger Band at 7,701.48 and closed above the 0.236 Fibonacci retracement at 7,698.04, which points to underlying strength even as the market digests recent gains. The recent pullback brought price toward this support confluence before buyers stepped back in. Indicators: RSI is at 58.47, sitting in the 40-60 consolidation range and approaching the key 60 momentum threshold. A sustained move above 60 would strengthen the broader bullish structure. Bollinger Bands show price sustaining above the mid band, which may continue to act as near-term support. Volume data isn't available for this symbol from the current data vendor. Support: 7,698-7,701 - Immediate Support Confluence (Fib 0.236 + Mid Bollinger Band) 7,620.90 - Key Support 7,565.31 - Major Support / Fib 0.50 Resistance: 7,744.88 - Immediate Resistance 7,798.98 - Key Resistance 7,816.70 - Major Resistance / Recent High Does this consolidation resolve with a push through 7,744.88, or do we see one more retest of support first? SPX, S&P500, StockMarket, TechnicalAnalysis, Consolidation This analysis is educational technical chart analysis provided for informational purposes only. It does not constitute investment advice or any recommendation to buy, sell, or hold any financial instrument. All analysis is based on publicly available market data and is subject to change. Users are solely responsible for their own investment and trading decisions.